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Sector Update: Energy

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Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index falling 2.2% and the State Street Energy Select Sector SPDR ETF (XLE) down 1.7%.

The Philadelphia Oil Service Sector Index was shedding 1.7%, and the Dow Jones US Utilities Index fell 1.2%.

Front-month West Texas Intermediate crude oil fell 8% to $82.14 a barrel, and the global benchmark Brent crude contract dropped 9.1% to $88.00 a barrel. Henry Hub natural gas futures shed 4.1% to $2.75 per 1 million BTU.

In corporate news, Chevron (CVX) Chief Executive Mike Wirth met with senior US government officials to discuss measures to keep the company's Kazakhstan operations safe from becoming collateral damage in the Ukraine-Russia war, The Wall Street Journal reported Friday. Chevron shares were down 1.9%.

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